Several large legacy carriers have been phasing out U.S.-based reservations call centers for years, leading to the rise of an outsource call center industry in the Philippines.
- Pacific Business News (Honolulu)
- March 26, 2007

(AIG) chose to run a business processing operation in the Philippines because it is “able to leverage AIG's strong local presence in an environment that is highly conducive to US-focused outsourcing operations.”
- Gary Reddick,
Sr. Vice President
AIG Worldwide Life Insurance
BACK OFFICE PROCESSING

The Philippines is enjoying wide acceptance as a country of choice for financial outsourcing services.  In the World Competitiveness Report published in 2001, the Philippines ranked 16th of 49 countries, with India at No. 38, for International Business Experience; a reason why the country is fast becoming a regional and global hub for shared corporate back office processing,

Some of the major clients include AIG Business Processing Services, Inc., which performs check preparation, accounting and disbursement services for member companies; Caltex Shared Service Center (CSSC), which provides accounting and financial services to Caltex business units in the U.S., UK, Hong Kong, Singapore, and Thailand; Maersk Administrative Center Ltd., which does general accounting documentation for the company's 11 branches; and Procter & Gamble Asia Pte. Ltd., which performs a host of accounting and financial services for P&G affiliates in Southeast Asia, North America, Korea, India, Taiwan, Australia, Hong Kong, New Zealand and Japan.


Some of the benefits of outsourcing to the Philippines:

  • Rich pool of fresh graduates of accounting and other business-oriented courses (80,000 to 100,000 every year)
  • The Certified Public Accountant board issues between 2,500 to 3,000 new licenses annually to successful board examinees
  • The country’s CPA's are proficient in Generally Accepted Accounting Principles (GAAP) and International Accounting Standards (IAS) for financial reporting, which are used in Europe, the U.S. and Japan.
The Back Office Processing industry offers the following services:

  • Accounting and bookkeeping
  • Account Maintenance
  • Accounts Payable Administration
  • Accounts Receivable/Collection
  • Asset Management
  • Auditing
  • Business Data Processing
  • Business Intelligence
  • Cargo Shipment Management
  • Credit Card Administration
  • Customer Relationship Management
  • Database Management
  • Disaster Recovery
  • Expense and revenue reporting tax reporting
  • Factoring and Stock Brokering
  • Financial Analysis
  • Financial Leasing
  • Human Resources Administration
  • Inventory Management
  • Logistics Management
  • Management Consulting
  • Network Management
  • Payroll Processing
  • Procurement
  • Purchasing
  • Revenue Management
  • Sourcing and Procurement
  • Sales and Marketing
  • Supply Chain Management
  • Tax Preparation/Reporting
  • Transaction Processing and Management
  • Warehouse and Inventory Management
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